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EU countries join a system for trade with Iran

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Iran considers the European Instrument in Support of Trade Exchanges (INSTEX), a tool set up to help trade with Tehran under the US sanctions, to be weak, Iranian Deputy Foreign Minister Seyed Abbas Araghchi stated earlier in November, adding that the system has not been fully implemented so far.

Axar.az reports citing foreign media that Finland, Belgium, Denmark, Netherlands, Norway, Sweden will join the INSTEX mechanism for trade with Iran, the Finnish Foreign Ministry said in a statement.

"In light of the continuous European support for the agreement and the ongoing efforts to implement the economic part of it and to facilitate legitimate trade between Europe and Iran, we are now in the process of becoming shareholders of the Instrument in Support of Trade Exchanges (INSTEX) subject to completion of national procedures", the joint statement reads.

The JCPOA was signed in 2015 by Iran, China, France, Germany, Russia, the United Kingdom, the United States, Germany, and the European Union.

Date
2019.11.29 / 16:28
Author
Axar.az
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